Economics/Class Relations

One $1,200 stimulus check won’t cut it. Give Americans $2,000 a month tax-free to fire up the economy

Okay, ruling class. Time to practice some of that “quantitative easing” and fork it over. With all due respect to my many wonderful libertarian and an-cap friends who dismiss the UBI as crypto-statism, I regard the UBI merely as reparations from the state/ruling class/power elite enemy, i.e. forty acres and a mule. And a debt strike is merely a call for a reduction in statism, i.e. the state steps aside and no longer engages in debt enforcement.

By Tim Ryan

Market Watch

Since the coronavirus struck our shores, my focus has been on keeping Americans safe and ensuring working people don’t get left behind. Their struggles today are greater than ever. Too many have suffered job losses, shrinking income, isolation, and health issues — all while caring for children and other loved ones.

The one-time $1,200 stimulus check that many Americans are now receiving under the CARES Act was a good start, but it does not go far enough as this quarantine enters its second month. Rent is still due, credit card bills keep coming in, utilities still need to be paid, our phone plans haven’t gotten cheaper, we still need to buy groceries to feed our families. How far do politicians think one $1,200 check can stretch?


2 replies »

  1. UBI, like QE and banker bailouts, using printed money, is simply a wealth transfer from foreign entities (often poor factory workers, as in China) who hold our paper. Americans (top 2% of the globe) calling UBI is a case of the privileged demanding more on the backs of the global poor. QE is worse, of course, but the same idea as long as our money is fake.

    • I would argue that the Chinese state owes reparations to Chinese people en masse. The way to do that would be to turn the entire Chinese economy, including nationalized industries, crony-capitalist industries, and foreign-controlled industries over to the Chinese people on the basis of the principles of homesteading, occupancy, and use. I’d say the same about Russia, India, North Korea, etc. Although I don’t focus on those places very much, except to debunk the official mythology about them, because they’re not the world empire that the US is and they get used as whipping boys by the empire.

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